A new affordable housing development has been proposed for 300 2nd St. in the Mill District — a lot next to the RiverWest condos.

Eagle Iron Partners, a joint venture of Wall Companies and Lupe Development, are working on the project known as the Mill City Quarter.

The development would have 130 to 150 apartments for people with incomes between 40 and 60 percent of the area median income, said Steve Minn, a principal at Lupe Development.

The development team behind the project showed off plans to the Downtown Minneapolis Neighborhood Association earlier this week. They plan on meeting with Mill District neighborhood leaders on Monday.

After gathering feedback from neighbors and other community leaders, the developers plan on engaging with city planning staff on the proposal early next year, Minn said. If things go smoothly, they hope to break ground by the end of 2013.

Eagle Iron Partners are also working on a second phase for the Mill City Quarter project — a senior/memory care assisted living facility for seniors. They are looking at around 130 units for that project. No timeline has been set for the second phase yet.